DirectMoney faces a funding bottleneck 23 October 2015 5:06PM Marketplace lender DirectMoney wrote A$7.8 million of loans in its first year of operation at a weighted average interest rate of 13.6 per cent. read more
Lenders improve their management of financial difficulty cases 22 October 2015 5:27PM The number of disputes at the Financial Ombudsman Service involving financial difficulty in the year to June was down 12 per cent from with the previous year, and down 37 per cent over the past three.. read more
Bankwest tops the FOS dispute league table 22 October 2015 5:26PM Commonwealth Bank subsidiary Bankwest has the dubious distinction of appearing in several product categories with above-average dispute levels in the Financial Ombudsman Service's 2014/15 dispute leag.. read more
RBA concedes its surcharge standard needs to work better 22 October 2015 5:23PM The Reserve Bank has made a commitment to narrow its definition of merchants' cost of card acceptance to simplify the regulation of credit card surcharging. read more
Comment: Government makes the right call on SMSF borrowing 21 October 2015 4:55PM The Government rejected only one recommendation of the Financial System Inquiry, which was that it should restore the general prohibition on direct borrowing by superannuation funds. The Government ha.. read more
Surcharge decision popular but not the FSI's blueprint 21 October 2015 4:55PM Consumer groups and the majority of participants in the payments industry will be pleased with the Government's decision to ban excessive merchant surcharging on card payments but they will be hoping.. read more
A retail bank that promises every customer a 'personal banker' 21 October 2015 4:53PM One of the most ambitious new bank launches of recent years was the opening of BankMobile in the United States in January this year. This is a retail bank that promises no fees, offers high interest r.. read more
Financial stress increases sharply 20 October 2015 4:43PM Two research reports released in the past week show that the proportion of households that are financially stressed is surprisingly high and increasing. read more
Small mortgage lenders aim to capitalise on Westpac's rate move 20 October 2015 4:38PM Auswide Bank is making a run at growth in mortgages, making home loans available at 3.98 per cent for owner-occupier borrowers with equity of at least 20 per cent. read more
Invoice payment days fastest rate on record 20 October 2015 4:36PM Businesses are paying their invoices at the fastest rate on record, Dun & Bradstreet reports. read more